Squarepoint Ops LLC lifted its stake in shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) by 39.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 476,608 shares of the company’s stock after buying an additional 134,316 shares during the quarter. Squarepoint Ops LLC’s holdings in National Energy Services Reunited were worth $14,265,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its stake in National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the second quarter worth approximately $34,000. USA Financial Formulas boosted its holdings in shares of National Energy Services Reunited by 63.0% during the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after acquiring an additional 871 shares during the period. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited during the first quarter worth approximately $48,000. Finally, Allworth Financial LP boosted its holdings in shares of National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after acquiring an additional 649 shares during the period. Institutional investors own 15.55% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on NESR shares. Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. BTIG Research boosted their price target on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings lowered National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. UBS Group increased their price objective on National Energy Services Reunited from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler lifted their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, National Energy Services Reunited currently has an average rating of “Buy” and an average price target of $33.57.
Insiders Place Their Bets
In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. The trade was a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,434,614 shares of company stock worth $92,297,886 in the last 90 days. Company insiders own 9.70% of the company’s stock.
National Energy Services Reunited Stock Up 1.5%
Shares of NESR opened at $34.70 on Thursday. National Energy Services Reunited has a 12 month low of $9.51 and a 12 month high of $36.94. The firm’s 50 day moving average is $30.93 and its 200-day moving average is $26.45. The stock has a market capitalization of $3.50 billion, a PE ratio of 37.72, a P/E/G ratio of 0.32 and a beta of 0.39. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm’s revenue was up 59.1% on a year-over-year basis. Equities research analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current year.
National Energy Services Reunited Profile
National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.
NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.
Featured Articles
- Five stocks we like better than National Energy Services Reunited
- Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal
- GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus
- Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer
- Sovereign AI: Palantir and Nebius Cut the Cloud Cord
Want to see what other hedge funds are holding NESR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Energy Services Reunited (NASDAQ:NESR – Free Report).
Receive News & Ratings for National Energy Services Reunited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Energy Services Reunited and related companies with MarketBeat.com's FREE daily email newsletter.
